AC Milan is reportedly close to being sold to Bahrain-based company Investcorp, which has a net worth that is almost ten times bigger than the Glazers’.
Tuttosport report that the Serie A side is on the verge of being sold by the Elliott Management Corporation, which would mean that this is the first Italian side to have been taken over by Middle East investors. Elliott has only owned AC Milan since 2018.
Potential new owners Investcorp will be purchasing the club and the debt of the San Siro outfit if a deal is met, with the valuation of the club being approximately £829.4million. But such a fee won’t be an issue for the asset management company.
They currently manage £32.3 billion worth of assets, which is just under ten times the worth of Manchester United owners the Glazers – who, according to Forbes, has a net worth of £3.6bn. Milan are currently top of the Serie A and are two points clear of second-placed rivals Inter – though Simone Inzaghi’s side does have a game in hand over the soon-to-be Bahrain owned outfit.
A return to being a title-contending side that can be competitive in all competitions will certainly be an exciting prospect for Investcorp, especially due to the financial backing they can provide to aid the team. The takeover is certainly a thrilling concept for AC Milan fans after some incredibly underwhelming seasons over the past eight years.
And the news of a lucrative takeover will leave many United fans incredibly jealous. There were mass anti-Glazers protests outside Old Trafford on Saturday ahead of the Red Devils’ match against Norwich City.
Some supporters refused to take to their seats until the 17th minute – due to 17 years of Glazers ownership – and others rallied with flares, banners and speakers. Fans are unhappy with how the club are operating and how they have become a side competing for places in European trophies rather than a title-winning side that are favourites to win major trophies.
United released a statement, via The Sun, after the protests. It read: “We are working hard to create the conditions for renewed success on the pitch while strengthening our engagement with fans.
“We respect the right of fans to voice their opinions peacefully and we will continue to listen to them, with the aim of working together to get the club back to where we all want to be: competing for trophies.” It remains to be seen how significant of an impact the appointment of Erik ten Hag makes on the mood at the Theatre of Dreams.
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